Foodmaker (Jack-in-the-Box Restaurants) Message Board

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Non-Tech : Foodmaker (Jack-in-the-Box Restaurants)

FM 27.19

0.0%

Jan 8 4:00 PM EST

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To: David Kuspa who wrote (45)	4/11/1997 7:07:00 PM
From: Arnie Doolittle	of 338

Yes, FM has held up nicely in recent weeks while the market has been heading south. FM's "correction" hit like a bolt of lightning due to MCD's misguided and misrepresented attempt at price cutting. FM is poised for a nice recovery, price-wise, assuming earnings and same store sales continue in an upward direction. One small note: Traders may take advantage of this quarter's anomoly when earnings are announced. What am I talking about? In last year's 2nd qtr., FM had an income tax adjustment that added to earnings. Why? Because they goofed and used an income tax rate that was too high in the 1st qtr. '96, adding almost 2 cents per share to second qtr. earnings. Needless to say, that adjustment corrected an understatement of 1st qtr, '96, but traders ignore such things and just look at the one line earnings headline. Arnie

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